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You are here : IndiaNotes >> Market Action >> Fundamental

Unichem Laboratories Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 25 Jan, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Unichem Laboratories Ltd is engaged in manufacturing formulations, active pharmaceutical ingredients (APIs) and pharmaceuticals.
  • Revenue for the 3rd quarter rose by 16.40% to Rs. 3599.21 mn from Rs. 3092.18 mn, when compared with the prior year period.
  • During the quarter, EBIDTA is Rs. 485.51 mn as against Rs. 388.16 mn in the corresponding period of the previous year.
  • During Q3 FY17, net profit increased to Rs. 261.08 mn from Rs. 206.68 mn in the corresponding quarter ending of previous year, higher by 26.32%.
  • During Q3 F Y17, Profit before tax was increased by 40.13% to Rs. 376.48 mn from Rs. 268.68 mn in Q3 FY16.
  • EPS of the company stood at Rs. 2.87 during the quarter, as against Rs. 2.28 per share over previous year period.
  • During the quarter 2 ANDAs were filed. Cumulative filings of ANDAs stood at 38 of which 21 ANDAs are approved. Cumulative filings of DMFs stood at 47.
  • For the nine months ended December 31, 2016, Net Sales stood at Rs. 10699.26 mn from Rs. 9271.68 mn in the corresponding period of last year.
  • Net Profit during 9M FY17 stood at Rs. 724.03 mn as compared to Rs. 727.54 mn for the nine months ended 31st December 2015.
  • Net Sales of the company is expected to grow at a CAGR of 11% over 2015 to 2018E.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 275.10, the stock P/E ratio is at 23.94 x FY17E and 21.36 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 11.49 and Rs. 12.88 respectively.
  • Net Sales of the company is expected to grow at a CAGR of 11% over 2015 to 2018E.
  • On the basis of EV/EBITDA, the stock trades at 12.86 x for FY17E and 11.55 x for FY18E.
  • Price to Book Value of the stock is expected to be at 2.21 x and 2.00 x for FY17E and FY18E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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